A Million For A Millennial: How A Brand Can Rejuvenate Its Audience

A Million For A Millennial: How A Brand Can Rejuvenate Its Audience
A Million For A Millennial: How A Brand Can Rejuvenate Its Audience

Video: A Million For A Millennial: How A Brand Can Rejuvenate Its Audience

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They were born with a gadget in their hand

Nicolas Bose, President of Van Cleef & Arpels, Member of the Board of Directors of the Richemont Group

“I probably should have thought more about millennials, but I can't say that I particularly care about this generation. Generations change, each is different. Millennials were born with a gadget in hand, they are very good at technology. I think this will have an impact on the watchmaking world - we already see the same connected watches, I think we will see even more similar projects, but we are primarily a jewelry house. And I do not think that all of this will greatly affect us. At the heart of our production is manual labor, and it should, on the contrary, rise in price against the background of all modern technologies. I believe that the addictions of the new generation will not affect what we do and how we do it, but rather how we present it to the public. We must offer not just a product, but an experience. Don't be too marketing. Last year, for example, vinyl records were sold more,than CD. Who would have thought ten years ago that vinyl would be back ?!

Among our projects, which also attracted a young audience, is the Parisian jewelry exhibition L'Arche de Noé racontée par Van Cleef & Arpels, set by Robert Wilson. The project was very successful, there were queues to enter, and there were a lot of millennials."

Our audience is already rejuvenated

Walter von Quenel, President of Longines

“Our pricing policy allows us to work with a very wide audience. The models that we present, the methods of communication that we are choosing now, are aimed, among other things, at rejuvenating the audience, and I can say that it has become younger now than several years ago. Our new launch, the Record collection, is aimed specifically at this young audience.

We want to create something new in the field of mechanical watches. We offer new useful functions - such as VHP (Very High Precision) or anti-magnetic protection with time adjustment: if you bring a magnet to the clock, it will stop, but as soon as it is removed, the indication will automatically adjust for the elapsed period of time. I am sure that the future belongs to such watches, and not to all these smart watches”.

A new communication strategy needs to be considered

Georges Kern, head of watchmaking at the Richemont Group

“I don’t think that for millennials it is necessary to release a special product, but what is really necessary is to think over a new communication strategy, to change some established models. We need to develop new strategies for product presentation, new communication channels. At IWC, which I headed before my new appointment, we, for example, decided to open an online boutique that will appear this year."

Photo: From the personal archive of Valeria Snoz
Photo: From the personal archive of Valeria Snoz

© From the personal archive of Valeria Snoz

They instantly calculate ads

Karl-Friedrich Scheufele, co-president of Chopard

“I think about millennials all the time - I have three millennial children! Often I try to determine by their reaction whether the product will go for the young or not. For example, my son, who is 20 years old, really likes LUC Engine One, the mechanism of which is similar to a car engine, on the other hand, he really likes classic models, because he has now discovered what I would call "gentleman's style" … Girls have different tastes: one loves minimalistic jewelry in the spirit of Ice Cube, the other prefers romantic ones like Happy Diamonds. If we talk not about products, but about communication methods, then it is obvious that the main channel of communication with millennials is digital. And in the stream of some Instagram posts, they can very quickly determine whether the message is advertising in front of them or not, they instantly calculate the advertisement."

Don't make the brand a temple

Juan Carlos Torres, Honorary President of Vacheron Constantin (until April 1, was the CEO of the brand)

“Many do not know, but the audience of Vacheron Constantin is quite young now - a very large percentage of those who are 30–35 years old. Of course we have very mature clients, but recently, for example, we sold a very expensive and complex watch in Geneva to a client who is only 24 years old! I believe that our goal is not to make watches for young people, but to connect Vacheron Constantin as a brand with a younger audience. This is not a product issue, it is a communication language issue. Don't make a temple out of the brand, make it open. Digital becomes the main channel. At the same time, the language should not be like hip-hop recitative, we should speak in the usual language. Do not take young people as children!"

No need to advertise the product, they need to advertise the image

Jerome Lambert, Head of Non-Hourly Business at Richemont (until April 1, was CEO of Montblanc)

“This generation, which grew up and was formed during the global development of social networks, must communicate with them differently than with previous generations. Their style of shopping, especially in the USA, is different, they are used to online shopping.

The main bridge to build is the bridge between your products and their lifestyle. They don't need to advertise the product, they need to advertise the image. You need to tell the story of your brand, speak both in the language of facts and in the language of emotions. This story should be very coherent, there should be no gaps in it, they instantly feel it. I missed something - and that's it, I lost! They have a habit of switching from brand to brand and must be retained. And they feel very well when there is nothing behind naked marketing. At the same time, they are well versed in brands. My daughters are younger than millennials - they are 13 and 15 years old, but I will give them as an example: they already understand brands (for example, they know very well, although, of course, they do not buy, Alaïa- for me at their age it was something from another world unknown to me), they have already formed a list of those from whom they want to buy things (and buy) and from whom they will never acquire anything. When buying, they focus on the brand image. They are heavily influenced by bloggers, but they are also very smart and rational buyers.

Another thing that is very important in working with them is that the goods should quickly appear in stores after they are presented at exhibitions or shows, they will not wait long."

Photo: From the personal archive of Valeria Snoz
Photo: From the personal archive of Valeria Snoz

© From the personal archive of Valeria Snoz

Engage buyers in the game

Stefano Macaluso, Development Director, Girard-Perregaux

“To attract young clients, you need to create something new, you need to change, to involve customers in the game. And the main mission is not a separate final sale, it is necessary to convey to the young in general that fine watchmaking is interesting. Otherwise, soon the mass of the current clients of the watch industry will grow old, and soon after that the watchmaking business will die with them”.

No marketing chatter

Daniel Riedo, former CEO of Jaeger-LeCoultre

“Millennials are quite difficult to work with as an audience at the moment. Simply because we do not yet know who they are and what their taste is. We assume that they want a product that is very different from the one requested from the previous generation. Another assumption is that they want something real, valuable, and not just marketing chatter and gimmicks. They know all advertising tricks and are used to filtering information.

For a younger audience, we address a number of models from the women's collection of Rendez-Vous, and for younger men - such watches as the new Master. At the same time, all these models correspond to what Jaeger-LeCoultre is as a brand, they are a continuation of our collections, we are not trying to create a special product for millennials from scratch."

Making a sports watch for them is the wrong way

Anthony de Haas, Head of Development A. Lange & Söhne

“The average age of our clients is still very respectable, and this is due to the specifics of the brand - we create expensive complex watches, but gradually our audience is rejuvenating. It began with the presentation of Zeitwerk, which many young and rich people liked. For example, businessmen from Silicon Valley began to order them. And there people are already in their early 20s, at the age of 30 they become billionaires, they make gigantic deals. And they are about technology, about digital, they would hardly want a classic Patek Philippe, and Zeitwerk came to such customers' liking.

Many brands, in an attempt to win over a young audience, create sports watches - this is such a head-on approach! Well pure marketing! I don't think this is the right way. True, I think that many people receive such a directive from above, and we are lucky that the owner of Richemont, Johann Rupert, does not demand anything from A. Lange & Söhne."

Earn money earlier

Philip Leopold-Metzger, former CEO of Piaget (Shabi Nuri took over from April 1, Metzger will advise her for the first time, according to the brand)

“We don't know much about these young clients yet. Perhaps the basic knowledge: they earn decent money earlier and start spending it earlier. Moreover, this is an international phenomenon, not a local phenomenon of some Silicon Valley. I do not think that we need to make jewelry and watches especially for someone, be it generation Y or Z, we need to keep the brand, but not forget about new clients.

We create products such as the Polo S steel watch with the hope of reaching a younger audience as well. At the same time, we have a line of Altiplano watches - it turns 60, it has survived many generations and is still popular. Its aesthetics does not change. And I think that the younger generation is interested in the classics. Such as our Altiplano, Santos, Cartier or certain Rolex models. These are design icons. No connected watch can replace this!"

Photo: From the personal archive of Valeria Snoz
Photo: From the personal archive of Valeria Snoz

© From the personal archive of Valeria Snoz

Traveling to the Maldives or buying a new watch?

Jean-Christophe Babin, CEO Bulgari

“Millennials are a fairly broadly defined age group. These are those who were born in 1981, and they may already be 36 (that is, they are not so young), and those who are 20. Accordingly, completely different people with different incomes, interests and ways are united into one group. life. Be that as it may, for me the main question in all this talk about millennials: how do you get the attention of a younger audience to luxury brands? After all, with the money that can buy a watch, you can spend a week in the Maldives - and young people increasingly prefer such an experience to something substantial. Whereas before we competed with other watch and jewelry brands, now we are competing with a much wider range of players. "Go to the Maldives or buy a new watch?" - this is how often the question sounds. You have to adapt to this.

In addition, customers are now increasingly becoming bloggers, actively discussing the product, they want to be more and more involved in the life of the brand, to have something unusual. This must also be taken into account. I think our new Serpenti, including interchangeable straps, will attract a young audience who, on the one hand, loves to be a co-author of a project, customize the product for themselves, and on the other hand, buys more and more rationally: what, by changing the straps, from one watch you can make hundreds of different ones, it can be an additional argument in favor of buying."

Swiss made at a price below 2 thousand Swiss francs

Jean-Paul Girardin, Vice President of Breitling

“Of course, we want to attract a young audience. And in this sense, connected watches are of great help: now the younger generation is more interested in what is on their wrist, and generally wants to wear something on it. Therefore, Breitling will continue to release smartwatches, adding various useful functions so that the functionality of the watch is not intended only for professionals. Last year we launched a large watch made of super-light Breitlight material and started production, so this year we are offering young Breitling lovers a new certified chronometer with a super-quartz made from an innovative material, Swiss made - all at a price below 2,000 Swiss francs. This project is also intended to attract young buyers."

Not just a watch, but a unique experience

Dorothea Anriot, Director of Marketing Roger Dubuis

“In January we announced our partnership with Pirelli and presented the first watch as a result. In May and September, we will announce new partnerships - these will be the luxury industry players, whose business has nothing to do with watches. I can't say more yet, but the new product will be aimed at a young audience as well. I'm sure that, despite the fact that many of them wear Apple Watch, this does not prevent them from simultaneously interested in mechanical watches. We have quite a few clients in their early 30s. And we are trying to offer not just a thing, but a unique experience - I think that this is the future. We have an expensive watch. If you buy yourself a model for € 200,000, it would seem that you yourself can buy any experience you want. Our task is to come up with something original. As with Pirelli- those who bought the watch can attend the Formula 1 race and enter all paddocks. Even if you buy a Ferrari, you will only be offered to visit the Scuderia Ferrari paddock, and we have a contract with Pirelli, which serves all teams with tires and helps us to offer such an unusual entertainment. ">

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